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Technical Analysis Theory and Practice - Premium users only
Expert: Tony Juste
Start: Tue, Jan 2, 14:00 GMT
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Type of Session: Webinar
Current Session: Europe - U.S.
EUR/USD
Forex Daily Analysis - Will the Euro-Zone PMI spur the next EUR/USD rally? by ForexYard
Daily studies are bullish with the MACD at 0.005 and Slow Stochastics at 65. The overall pattern suggests we're through with the a-b-c correction that took us to 1.3050, and the last bullish moves are most probably the resumption of the uptrend. The incline that started last week seems to be, than, wave number 3, and if so the minimal move is expected to get us to 1.3207. Extremely bullish hourly oscillators also favor the upside today.
- Check out how the currency moved on Live Currency Rates & Charts at FXstreet.com
- Insight on the fundamentals in the Fundamentals section at FXstreet.com
- What´s next on the agenda? Take a look at our Economic Events Calendar
- What's going on in the markets? Read our latest Forex news
Other Topics for this Session:
Wakeup Call on Forex Markets - Happy New Year by Saxo Bank
Daily Trend Trade - Daily Trend Trade by FX Trend Trader
Weekly Forex Signals - On 2006 Sterling rose about 13.8 percent against the dollar by Finotec Group Inc
Majors at a Glance
- EUR/USD
- Continues to move up above 1.3250
1/2/2007 10:48:41 AM - GBP/USD
- Trades above 1.9700
1/2/2007 10:54:18 AM - USD/CHF
- Drops below 1.2150
1/2/2007 10:56:46 AM - USD/JPY
- Drops below 119.00
1/2/2007 10:58:36 AM
Charting the Market Movers
EUR USD, Hourly
EUR JPY, Hourly
Top Market Movers Preview
U.S. ISM Manufacturing
| Period | Previous | Consensus | Time |
| December | 49.5 | 50.0 | Jan 2, 15:00 GMT |
Economic Release Alert - Manufacturing activity is expected to remain stable in the month of December by FXCM
The National ISM index is expected to bounce after dropping into contractionary territory last month. The rebound in the housing market as evidenced by the rise in new and existing home sales could help to boost construction spending. Even though we saw a horrid Philly Fed print for the same month, the ISM adjusted level actually increased.
[ Full Story ]- Daily Forex Technical Report - Dollar Weakens ahead of Manufacturing Day by ActionForex.com
Top Market Movers Review
UK PMI Manufacturing
| Period | Previous | Consensus | Actual |
| December | 52.5 | 53.0 | 51.9 |
UK Dec manufacturing PMI 51.9, lowest since March by AFX News
The UK's manufacturing sector, which accounts for around 15 pct of the country's GDP, saw growth ease unexpectedly in December to its slowest rate in nine months, sources said of a key survey. They said that the Chartered Institute of Purchasing and Supply's purchasing managers index slipped to 51.9 in December from a downwardly revised 52.5 in November. The October reading was initially 52.6.
- Tony Juste, FX Advisor at FXstreet.com:
"UK PMI comes out disappointing investors, but the reality behind the number is that a so strong Pound against the asian currencies could have a more-than-moderate impact on the economy mid-term and I do not think that is the monetary policy that should be favoured. The european regions are starting to show some fatigue and their respective currencies are digging that hole further." - FXstreet.com
EMU PMI
| Period | Previous | Consensus | Actual |
| December | 56.6 | 56.8 | 56.5 |
Euro zone Dec manufacturing PMI slips to 9-month low of 56.5 - sources by AFX News
The euro zone's manufacturing sector saw output grow at its slowest rate in nine months during December, sources said of a key survey. The purchasing managers index for the euro zone manufacturing sector slipped to 56.5 in December from an unrevised 56.6 in November, they said.
Analysts polled by AFX News had predicted a modest rise to 56.9.